“This holiday season was a record-breaking success by any metric, and the strong retail sales are a sign of momentum for 2022,” said Tom McGee, President and CEO of ICSC.
ICSC found that consumers spent an average of $1,011 this holiday season with 226 million people spending money on holiday gifts. Those who spent more than last year reported spending about 21% for holiday purchases this year.
These numbers show a sign strong of resurgence and pent-up consumer demand in retail. Retail sales have continued to see significant growth year-over-year. Even with supply chain issues, 64% of shoppers felt that retailers did a good job of making sure shelves were stocked and merchandise was available. Consumers (45%) also noted that they began their holiday shopping earlier than usual this season. Despite the challenges and the effects of the pandemic still evident, retailer and shoppers were able to create a memorable shopping season.
“We expect 2022 to bring continued demand for in-store shopping and experiences, while consumers will continue to take advantage of online and click-and-collect options,” said McGee. “Successful retailers will leverage all channels at their disposal to reach consumers and meet their growing needs.”
Source: Holiday 2021 Sales – BusinessWire
Photo Credit: Unsplash